Trump's family supports mining company American Bitcoin rose 17% on its first day of listing, and Eric Trump's shares are worth more than $500 million

According to BlockBeats, on September 4, the Trump family-backed mining company American Bitcoin (code ABTC) rose nearly 17% to $8.04 per share on the first day of listing, with a high of $14 intraday hitting a high of $14. The stock traded in the first day of the stock exceeded 29 million shares. Eric Trump said: "We have a core high-quality mining business, and the current mining cost is only 50% of the Bitcoin market price. The company holds hundreds of millions of dollars in hardware assets and data centers... When others can only buy at face value, we can obtain Bitcoin at a large discount." According to Bloomberg, the successful listing of American Bitcoin means that the shares held by Trump's second son Eric Trump are worth more than $500 million. American Bitcoin, founded in March this year, was co-founded by Eric Trump and supported by Donald Trump Jr. (the eldest son), and is a crypto mining and coin holding company. In June, American Bitcoin raised $220 million through a private placement of 11 million new shares. Hut 8 holds 80% of its shares, with the remaining 20% ​​controlled by American Data Centers, supported by the Trump brothers. Eric Trump serves as the company's chief strategy officer.